Quantum House – an office building in a prominent location on Basing View, Basingstoke –has been sold to Arena Business Centres, an established serviced office provider with a portfolio of nine other centres across Dorset, Hampshire and Surrey.
Arena already has a presence in the Basing View area, with sister centre The Square just a short walk from the newly acquired Quantum House.
Arena intends to invest in the 37,580 sq ft building with an extensive programme of refurbishment, including the construction of a new reception and business lounge area. Premium office suites will also be created as part of the refurbishment scheme, with each of the five floors providing approximately 7,500 sq ft of office space.
A range of office suites will be available on each floor, enabling Arena to effectively cater for start-ups, entrepreneurs, SME’s and larger corporations.
The property is held on a long leasehold interest from Basingstoke & Deane Borough Council, expiring in December 2101 and subject to a fixed peppercorn rent. The price paid by Arena was just in excess of £1.5 million.
Agents BDT (Basingstoke) and DMA (London) acted jointly for the unnamed long leasehold vendor, while Vail Williams (Southampton) represented the purchaser.